Trichet comments after ECB rate decision

BRUSSELS (Reuters) - The following are comments by European Central Bank President Jean-Claude Trichet on Thursday after a Governing Council meeting in Brussels. The ECB earlier cut interest rates a record 75 basis points to 2.50 percent.

UNCERTAINTY HIGH

"The level of uncertainty remains exceptionally high.

"The outlook remains surrounded by an exceptionally high degree of uncertainty. Risks to growth lie on the downside."

"The situation is tense obviously....we see tensions that are substantial. We see that on both sides of the Atlantic."

INFLATIONARY PRESSURES DIMINISH

"Overall since our last meeting the evidence that inflationary pressures are diminishing further has increased.

"Lower commodity prices and weaker demand leads us to conclude that inflationary pressures are diminishing further."

RISKS TO PRICE STABILITY MORE BALANCED "Looking through the shorter term volatility in headline HICP inflation rates, risks to price stability at the policy relevant horizon are more balanced than in the past and